 
 
Grayscale’s bid to convert its Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF) gained momentum last week as the SEC’s approval accelerated listing and trading on NYSE Arca.
Even though this debut has been temporarily delayed, XRP is eyeing a bullish run to the psychological price of $3 since it is one of the cryptocurrencies in Grayscale’s GDLC.
Market analyst Mary pointed out, “XRP price eyes $3 breakout as Grayscale’s XRP-allocated ETF receives regulatory approval, sparking bullish sentiment. XRP trading at $2.17, with potential to rally to $2.48 and $5.”
An analyst shared similar sentiments with a pseudonym, TheBuzzingBee, that Ripple’s XRP was poised to break out from a symmetrical triangle with all eyes on the $5.30 target.
Is XRP’s Momentum Getting Underway?
According to crypto analyst Lingrid, XRP has broken a long-term descending resistance and successfully retested the $2.15 breakout zone, holding strong. With multiple bullish triangle patterns preceding past rallies, the current setup signals a potential explosive move higher.
 
She added, “A clear inverse structure is developing, aiming for the $2.40 target line marked above. Momentum may continue to build rapidly if price sustains above the recent breakout level.”
Having breached the psychological price of $2.80, XRP is seemingly building bullish momentum needed to soar to the $3 zone.
At the time of this writing, XRP was hovering around $2.71, representing a 27% increase in the past week.
Popular crypto analyst Egrag Crypto recently revealed that anything between $2 and $3.40 was “just noise” for XRP, showing that the 4th-largest cryptocurrency based on market capitalization was destined for greater heights.
Source: https://zycrypto.com/xrps-5-destiny-grayscale-etf-approval-and-technical-breakout-signal-crazy-move-ahead/